trending Market Intelligence /marketintelligence/en/news-insights/trending/hCaojiMmKrBlLT7QfHmLRQ2 content esgSubNav
In This List

Kandi Technologies Q2 profit falls YOY

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds


Kandi Technologies Q2 profit falls YOY

Kandi Technologies Group Inc. said its normalized net income for the second quarter was 7 cents per share, a decline of 21.9% from 9 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.2 million, a decline of 20.8% from $4.1 million in the year-earlier period.

The normalized profit margin dropped to 5.9% from 8.5% in the year-earlier period.

Total revenue grew 15.1% on an annual basis to $55.2 million from $48.0 million, and total operating expenses rose 25.3% from the prior-year period to $57.6 million from $46.0 million.

Reported net income decreased 49.2% year over year to $2.9 million, or 6 cents per share, from $5.6 million, or 12 cents per share.